Team Fresh

About Team Fresh

Team Fresh is a South Korean logistics company specializing in comprehensive cold-chain solutions for the fresh food and e-commerce sectors. Founded in May 2018 by CEO Sung-il Lee, a former employee at Market Kurly, the company was established to meet the rising demand for early-morning fresh food delivery. Lee's background in managing early morning delivery services at his previous company provided him with the crucial insight into the market gap for dedicated cold-chain infrastructure.

The company's business model is centered on providing an end-to-end logistics service for businesses that handle fresh goods. Its core services include third-party logistics (3PL), fulfillment, early-morning delivery, food ingredient distribution, and refrigerated truck freight brokerage. Team Fresh serves a diverse client base, from smaller e-commerce businesses to major players like eBay Korea, by managing everything from inventory and order processing to last-mile delivery. Revenue is generated through commissions on deliveries and fees for its various logistics, storage, and fulfillment services. By owning its logistics centers and fleet of refrigerated trucks, the company maintains control over the entire temperature-sensitive supply chain.

Since its inception, Team Fresh has demonstrated significant growth, capturing a dominant share of the early-morning delivery market in South Korea. The company has secured substantial funding through multiple rounds, including a Series C in 2021 and a Series D in 2022, attracting investments from prominent firms such as KT Investment, Kakao Investment, and STIC Ventures. In 2022, KT became the second-largest shareholder after a strategic investment aimed at combining Team Fresh's cold-chain capabilities with KT's digital logistics technology. Recently, the company has been focused on enhancing operational efficiency by integrating automation and robotics, such as the "NarGo Order Picking" solution, into its logistics centers.